NEW DELHI: The beleaguered auto industry met finance minister Nirmala Sitharaman on Wednesday and said too much focus on electric vehicles (EVs) — pushed aggressively by Niti Aayog — is distracting buyers from petrol and diesel vehicles at a time when companies are struggling to generate demand. The industry, which was represented by Maruti chairman […]
Category: Power
Power
Sterling & Wilson Solar IPO subscribed 9 pc on first day of bidding
New Delhi, Aug 6 () The initial public offer of Sterling & Wilson Solar Ltd was subscribed 9 per cent on the first day of bidding on Tuesday. The IPO through which the company plans to raise about Rs 3,125 crore received bids for 21,06,264 shares against the total issue size of 2,21,77,418 shares, as […]
State has powers to shut hazardous units like Sterlite: TN
Chennai, Aug 6 () The fundamental right to carry on any profession or business conferred by the Constitution is available only to individuals and not to corporates like Vedanta, the Tamil Nadu government told the Madras High Court on Tuesday. Senior counsel K V Viswanathan made the submissions on behalf of the state government while […]
Sterling and Wilson Solar raises Rs 1,406 crore from anchor investors
New Delhi, Aug 5 () Initial public offering (IPO)-bound Sterling and Wilson Solar Ltd on Monday said it has raised Rs 1,406 crore from 27 anchor investors by allotting 1,80,28,846 equity shares at the upper band price of Rs 780 ahead of its initial issue that opens on August 6. Among the 27 anchor investors, […]
Ex-BHEL official defrauds bank of Rs 6 crore, in CBI net
CHENNAI: The Central Bureau of Investigation (CBI) has launched an investigation against a former executive director of Bharat Heavy Electricals Limited (BHEL) running his own company for cheating a bank of Rs 6.3 crore. The Madurai branch of CBI registered a case against K Manickam, his firm Hi-Tech cranes and his wife P Maragatham last […]
‘Solar panels at IIC to save 1 lakh units in a year’
NEW DELHI: Tata Power on Friday inaugurated its “India International Centre goes green” initiative by installing 70kW rooftop solar power panels which it claims will save 1,00,000 units. A discom official said the panels, which has been built as a CSR initiative for Rs 35 lakh, will help save around Rs 11 lakh in power […]
NTPC chief for setting up of clean power projects without PPAs
New Delhi, Aug 2 () Amid a row between discoms and clean energy developers over renegotiation of tariff, NTPC Chairman and Managing Director Gurdeep Singh on Friday suggested setting up of renewable projects without power purchase agreements (PPAs). In the current scenario, bankers and financial institutions insist for long-term PPAs before financial closure or fund […]
Adani Power completes acquisition of GMR Chhattisgarh Energy
New Delhi, Aug 2 () Adani Power on Friday said it has completed acquisition of GMR Chhattisgarh Energy (GCEL), which owns and operates a 1,370 MW (2 X 685 MW) power plant at Raikheda village in Raipur. “52.38 per cent of the equity stake in GCEL was acquired from its consortium of lenders, following the […]
Plan for solar panels in 200 North Delhi corporation schools cleared
NEW DELHI: North Delhi Municipal Corporation on Wednesday approved the proposal for installation of solar panels in over 200 schools run by it. The decision was passed by the standing committee of the civic body on Thursday. Chairman Jai Prakash said that the project would help save energy as well as reduce expenditure. “Solar panels […]
Tata Power posts Rs 230 cr profit for Apr-Jun
New Delhi, Aug 1 () Tata Power’s consolidated net profit declined by 86 per cent to Rs 230.80 crore in the April-June quarter of 2019-20 mainly due to exceptional gains in the same quarter of last year, according to a regulatory filing. The company had posted a consolidated net profit of Rs 1,735.12 crore for […]
Musk ‘violates’ SEC settlement with tweet
San Francisco: Tesla CEO Elon Musk is courting trouble again with the US Securities and Exchange Commission (SEC) over his controversial Twitter activities, this time revealing Tesla’s solar production numbers on the micro-blogging platform. Replying to a follower, Musk tweeted he was hoping the company would manufacture about 1,000 solar roofs a week by the […]
New power tariffs give relief to domestic users
NEW DELHI: The capital’s power regulator, Delhi Electricity Regularity Commission (DERC), on Wednesday announced the tariff for 2019-20, significantly bringing down fixed charges for domestic consumers while increasing the variable energy charges across some categories. However, almost all these consumers will be paying less as a result of the cumulative effect though their gains will […]